just asked my crystal ball by January 17th it promised silver to hit $30 ... if it lies I'll throw it out, I told it so
A LOT of people bought in at $35 last fall...and, have been patiently waiting to get most of their money back. I think you're mostly right though...and, we may see $25-$27 USD before it drops below $20 again./
The only thing I patiently wait for is an again lower price. I don't really care about which peak price we may see. It's not because I bought when spot was abit over $30 that I should disappointed return to fiatmoney whenever that price or higher would be reached. Let's ask the topics question in another way: Who here is still willing to stack silver when spot is $30 per ounce ? Someone? Anyone? Raise the hands? Hello? Hum. Who switched off the light?
I will continue buying silver or rest of PM until I be able. I've became too addicted. But I think I'm more or less finished for this year. Will probably sell some of it and try be better prepared for next year - only buying things from the list and some (semi) bullion stuff. This year I was more like a French hooker - jumping from one thing to another... I see some potential in some other metals (palladium) so maybe I will turn "The Eye of Sauron" to it. Who knows. It too soon to say anything. One of the best things and truest things I've remember by heart from book ReWork is "planning is guessing". I don't even know what I will be eating in next few weeks, dunno how will act next year when 10 new series will emerge and I will have money for only some.
LOL true true, its ok though you can stream them all free from the net! Just saying .. one less burden to worry about internet is better than pay tv. You can steam what you want when you want, I literally watch 0 hours of tv now. Love it!!
lol and that is still not $30 and a damn long way fro $50 you were cherry picking data when it clearly over the last 2 years has been trending down It is still overpriced and for the record I dont think it should be $8 I believe it should be around $17 general prices did not increase 400% so silver will come back down to its natural levels. 2008-11 was a once in a 30 year event(GFC) and wont happen again any time soon again
Look at a broader scale sir. instead of cherry picking your data with your red-stained fingers...look at silver, considering inflation dollars, over a span of 20, 30, 40 years. Silver lost 60% of it's value, if you go back a few years, yet you're so focused on this 400%. We can all rest now that you think Silver should be $17. Finally. You dont look very far in history, and seem to forget that it's a finite resource. More people, less silver, more uses, than 40 years ago. that spells higher prices, relative to inflation, not the SAME.
huh? Your argument is flawed. You are basing your predictions on the past only, prior to when there were 4 billion people in the world (let alone over 7B currently) and prior to cell phone and other technologies? You're forgetting some key elements, and I guess, since you're a permabear, you won't even consider how much silver is in the ground, how many people will continue to use it, and that most of silver that is used, is never recovered. $49 was a hiccup, yes. But, pricing it at $17 when comparing to fiat in a highly depressed and debt driven world economy...well, I don't agree.
This all depends on your definition of soon, in my humble opinion. If you define soon as "next week", then, yes, I'd be more inclined to agree than disagree with you. However, if you define soon as in the next couple or few years, then with respect, I don't think you may have taken into account all of the economic data that may be available to you in making that assessment. Can we agree that the GFC in 2008 was defined as an event that was bought on by considerable mal investment turning bad, taking with it some financial institution(s), and the bursting of an overinflated bubble (in this case real estate)? If we do agree on that rough definition, then it seems you're suggesting that the current debt bubble, stock market bubble, real estate bubble, and QE bubble are not going to burst in the next few years, nor is inflation going to run rampant, and that all major countries and economic systems will continue to operate as they are now? I respect your optimism sir, for I cannot see the same outcomes myself.
Woah, that is a 100% rise in a few weeks, Silver just doubled in your mind! It is 3.30am and Silver is AUD$26.27, up 76c!,(Gold up $25.) This 'sideways' movement is a bit more than just 'sideways'! That's up more than $5 oz since I purchased last month. Early September is usually a bad time for the stock market plus add in other 'negative news' and I think we will see Silver AUD$30, no problem. Edit: 30 minutes later Silver is $26.44, up 92c! Giddy-up horsey.
With respect, do you read up on anything? The GFC was a warm up for the main event. No large player has changed the way they invest and gamble. If anything, they have gotton worse because they know they will be bailed out. The FED has increased its balance sheet over 400%, latest data is showing the 2 biggest holders of US bonds behind the FED just dumped 2% each of their holdings and the FED stepped in and bought the lot! The US is directly monitizing debt. This does not bode well for the largest economy in the world. Not to mention all the unfunded liabilities across ALL sectors of government. Debt bubble, bond bubble, housing bubble and share bubble. Investors have been driven into shares seeking yield and losses are written on the wall 2014 will be the year it is clear, 2015-16 will be when it gets bad. Eg - depression You talk about 30yr events, how about the 30yr bull market in bonds? Now there is a correction that is due! All I see in gold and silver is noise, not a bear market. Buying of physical has never been stonger. CBs world over are buyers! If it is no longer money, why are they doing this? They understand what fiat is because they print it. There are bad times ahead which ever way you look at it. Where the US goes, the world will follow!
September will be very important month of the year. After German elections it will be clear how Euro crisis will be dealt with. Germany economically and politically strongest EU member, "piggy bank" of our beloved Union. Our government actions will be reviewed in September/October. It's quite possible my country will be next in the line who will ask for help. They were telling that small countries aren't problematic, but just remember all the fuss around Cyprus. France "growth" is extremely weak, around 0,1%. New austerity package is planned to hit us in next weeks. Everything is possible, even fall of the government. So nothing too optimistic on our end. But I've read that Ireland is getting better, supposedly even Greece.
